Key highlights;
Markets have returned a much stronger performance than in 2022.
Multi-asset portfolios are set to beat cash and inflation this year.
Recession is likely in 2023, however rate hikes are expected to pause this year.
US Core bonds are up 4% this year and set to deliver steady returns in this slow growth and lower inflation environment.
Mega cap tech stocks have soared this year with the NASDAQ Up nearly 20%.
European Equities have outperformed the US peers giving a return of 11% YTD.
Shortages in housing, infrastructure, transportation and Energy will take years to correct.
Inflation reduction act and the CHIPS act have the potential to boost the $1 trillion in clean energy.
Many expected corporate earnings are likely to deteriorate and this could have potential follow on impacts as well. Average company in the S&P 500 grew by 3%.
Source: JP Morgan Private Banking.
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